Germany鈥檚 largest pension fund manager and its biggest public insurer are part of a consortium acquiring the Olympia London Exhibition Centre for 拢296m (鈧�348m).
Deutsche Finance International (DFI) and Yoo Capital, which are leading the consortium, confirmed that the 130-year-old exhibition centre had been bought from listed property company Capital & Counties Properties.
The 鈧�80bn Bayerische Versorgunskammer (BVK) and 鈧�48.5bn Versicherungskammer Bayern Group (VKB) form part of the consortium, alongside DFI鈥檚 European Value Add Fund and Yoo Capital, a UK private equity firm.
Olympia London is situated on a prime 14-acre freehold site in West London. Each year its welcomes more than 1.6m visitors and hosts over 200 events, including .
Gavin Neilan, co-managing partner at DFI, said: 鈥淲e see tremendous long-term potential in the 14-acre estate and an opportunity to grow Olympia鈥檚 status as a world-class exhibition and events venue working with the existing management team and our partners to enhance the customer experience through expansion of the retail, leisure and hotel offerings.鈥�
Yoo chairman John Hitchcox said: 鈥淲e will work closely with Olympia management to ensure Olympia continues to represent the very best in world-class exhibition space for Central London and the UK.鈥�
